Lift to Rise receives $5 million in funding for affordable housing project

The Southern California Association of Governments Regional Council (SCAG) is adding $5 million dollars to the "We Lift: Coachella Valley's Housing Catalyst Fund."

The fund, which was created by Lift to Rise, the Low Income Investment Fund, Rural Community Assistance Corporation and Riverside County, provides low-interest loans for affordable housing developments.

The money is to be returned to the fund so can be doled out to other affordable housing projects across the Coachella Valley. Thus far, the fund has financed 600 developments across the valley, including the Vista Sunrise Apartments on DAP Health's campus.

The $5 million dollar award brings the fund to a total of $46 million dollars, which is near Lift to Rise's goal of $60 million.

According to the organization's 2022-2024 housing plan, the aim is to finance 10,000 housing development projects by 2028 with this fund.